Buying a house in December might seem about as good of an idea as eating that fruitcake you’ve had in your freezer for six years, but there are some advantages to adding a house to your Christmas shopping list. That’s not to say buying a house at Christmas doesn’t present some disadvantages, but many of those so-called disadvantages can actually be turned around to work in your favor.
Why would you ever buy a house in December?
One reason cited for pressing pause on buying a house at Christmas is because the selection dips at that time. A lot of people take their homes off the market during the holidays because they don’t want to deal with open houses, showings and trying to keep the house clean at all times. Because so many sellers take a break, so do many realtors. Less inventory and less realtors? Alright, so why would you ever buy a house at Christmas?
Less buyers means buying a house in December is lower key
Well, the lower number of homes for sale and the trend toward realtor vacations do offer some disadvantages, but they also create a lower key buying experience. Yes, there are less sellers, but there are also less buyers. That means you are much less likely to get caught in a bidding war over a house or lose houses to faster offers. The sellers who keep their house listed during Christmas, are motivated sellers. They want to sell their house now, for whatever reason. Maybe they have already committed to buying another house or have to move because of a job transfer. Either way, motivated sellers are a buyer’s friend.
Get a better mortgage deal?
The lower number of buyers and sellers, further translates to a mortgage slow down. Mortgage brokers feel the decrease in sales at the holidays. Christmas has always been the lean season for mortgage brokers. This can work to your advantage. Your mortgage broker may be inclined to work out a better mortgage package because business is slow.
All those other issues aside, buying a house in December can just straight up save you money. The prices of homes listed for sale tend to be higher in summer and lower in winter. That can translate to a savings of five to seven percent. The winter months are also a good time to see a potential house. Do you still love it when there are no leaves on the tree, the lawn is dormant and the gardens don’t present as lush and blooming as they would in the spring? A swimming pool that looks so inviting in August, may not look as attractive in December.
Tell Santa you want to buy a house
Yes, buying a house in December means you have less of a selection and maybe more trouble rounding up an agent to show you a house, but the advantages can mitigate those drawbacks. Don’t be afraid to tell Santa you want to buy a house. As always, we here at Landmark Title, do stay on the job during the Christmas season. We work with both residential and commercial realtors, along with their clients to provide escrow and title services. If you have questions or need assistance, please contact us at (602)768-2800 or visit our website.